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Investment contracts to develop the agricultural sector
Iraq 12/05/2024
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The capital, Baghdad, will host the Iraq National Investment Forum next March, coinciding with the activities of the 16th Agricultural Week Exhibition.
The Assistant Director General of the Investment Department at the Ministry of Agriculture, Dr. Hussein Ismail Hussein, said in a statement to Al-Sabah: The Iraq National Investment Forum will be held instead of the international one during March of next year 2025, coinciding with the activities of the 16th Agricultural Week Exhibition, indicating that the forum will offer investment contracts with local companies that serve the sector's development plans.
He added that the offered contracts will include investment projects in forests and vacant lands, and a review of the current status of sold, rented and offered projects according to Partnership Instructions No. 1 of 2024, as well as projects owned by the ministry and its affiliated directorates in the governorates.
Hussein revealed that his ministry has an investment map that is updated annually, in order to include new investment opportunities in the plant and animal sectors by the Directorates of Agriculture in Baghdad and all governorates, and to be approved by the Minister, noting that the most important problems facing the agricultural sector are the conversion of strategic agricultural projects produced under contracts with investors into residential complexes based on the desire of the governors or the municipality.
He pointed out that a draft of the Agricultural Investment Law was submitted to the State Shura Council in order to make some amendments that include deleting and adding some paragraphs, in addition to issuing legislation specific to investment, noting that the Agricultural Investment Law includes a council headed by the Minister of Agriculture, authorized to manage agricultural lands, and specialized in achieving environmental projects that attract investment, stressing the need for the private sector to support its investment projects of poultry, meat and eggs, in order to enable it to sell its products at reasonable prices to citizens, and to be able to compete with its imported counterparts.
The Deputy Director General of the Investment Department promised that the development of agriculture, both plant and animal, is the most important aspect of the government's plans and programs for nearly 70 percent of the Iraqi people to depend on agriculture directly or indirectly, revealing that the agricultural sector needs extensive investment operations through maps that show promising areas for investment in the country, and studying the elements of strength and weakness in order to create elements of strength and studied influence to attract national and foreign capital.
He called on the private sector to enter the country strongly and exploit the ideal opportunities provided by the investment law, which will in return achieve comprehensive development for the agricultural sector, the good of which will spread to all governorates, stressing that the success of the agricultural sector in implementing its plans means achieving Iraq's national sovereignty.
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